Bluestone Mortgages - Application process

mortgage1st

Interested to hear from those who have used or are going through the application process. I am using a broker at the moment. D.I.P. all came through fine, application has now been submitted and we then got asked to provide my partners current mortgage statements, are P60's and send our passports off. Got those back and now awaiting a decision. We placed our offer 2 weeks ago and had a delay due to an issue with the LTV ratio but that's now sorted but we're eager to find out if things are going ahead and when the valuation of the property we plan to purchase will happen. Totally nerve wracking, the broker are also probably annoyed at my constant calls daily for updates but not sure what else I can do, feel a little in the dark at the moment and slightly frustrated.

ACG

Valuation gets instructed after the underwriting is completed.
They are assessing documents for around 10 days, so if you applied less than 10 days ago then it is just a waiting game.

You can instruct the valuation sooner, but you risk losing the money if they decline your application.

mortgage1st

Yeah we don't want to do that and our broker hasn't advised us on that either. I spoke to the broker yesterday who said they will call them today and let me know, they didn't I ended up calling them and was told that the Mortgage Adviser I dealt with had chased them and was awaiting an update. I just hate all this chasing.
Just out of interest is it common to decline after D.I.P. is issued with Bluestone in your experience, it's all I keep thinking is going to happen as I'm just constantly fearing the worst. I'm so stressed out by this I can't concentrate, eat or sleep at the moment!

mortgage1st

So we have a slight update, still waiting on the broker coming back to us with an update but we can see a credit search was done on 29 June on our credit report with Experian so hoping that's some kind of good sign at least that some kind of processing has took place. We shall see what they come back with!

Poodle34

mortgage1st wrote: »

Yeah we don't want to do that and our broker hasn't advised us on that either. I spoke to the broker yesterday who said they will call them today and let me know, they didn't I ended up calling them and was told that the Mortgage Adviser I dealt with had chased them and was awaiting an update. I just hate all this chasing.
Just out of interest is it common to decline after D.I.P. is issued with Bluestone in your experience, it's all I keep thinking is going to happen as I'm just constantly fearing the worst. I'm so stressed out by this I can't concentrate, eat or sleep at the moment!

Just wondered how you'd got on as we are now in the same situation?

mortgage1st

Hi, Poolde34 our application was declined by Bluestone and our broker was trying to get it overturned because I had a recent loan with Lending Stream and they're classifying it as a PayDay loan so we've had to go to another lender that accepts this in their criteria. It's all progressing fine with our other lender without any issues at present.

Winniedog

Hi guys just wondering if anyone had any luck with Bluestone in the end? We had the valuation done on Monday and our MA said we would hear back by the end of the week, we are going to pick our options and extras on a new build over the weekend so would like a decision by then!

Is it almost certain you will be in with a chance if they have done the valuation? Any news of luck would help thanks.

bigisi

Winniedog wrote: »

Hi guys just wondering if anyone had any luck with Bluestone in the end? We had the valuation done on Monday and our MA said we would hear back by the end of the week, we are going to pick our options and extras on a new build over the weekend so would like a decision by then!

Is it almost certain you will be in with a chance if they have done the valuation? Any news of luck would help thanks.

Posts reported - stop spamming the forum!

Winniedog

How am i spamming? I was asking for advise!

bigisi

Winniedog wrote: »

How am i spamming? I was asking for advise![sic]

On nine different threads?

Same post on multiple threads (most of which were months if not years old) = spamming.

SonOf

Winniedog wrote: »

How am i spamming? I was asking for advise!

Spamming is where you repeat the same thing multiple times. It doesn't have to be an advert for something but anything repeated multiple times to a level that is annoying. On at least nine threads about Bluestone, you have asked the same question.

You only need to ask once. Otherwise, those logging in today are you going to see 9 similar posts from you on 9 threads in this section accounting for over half the threads posted to in the last 12 hours. That is just going to wind people up.